Wiseguyreports.Com Adds “IoT Cloud Platform Market: Demand, Growth, Opportunities and Analysis of Top Key Player Forecast To 2022” To Its Research Database

Global IoT Cloud Platform Market

IoT Cloud Platform Market is estimated at $1.88 billion in 2015 and is expected to reach $9.33 billion by 2022 growing at a CAGR of 29.0% from 2015 to 2022. Increased working effectiveness, cost effective & easily deployable cloud data storage, growing acceptance of connected and intelligent devices and development of high speed networking technologies are some factors which are fueling the market. In addition, the increasing implementation of IoT enabled applications in server message block provides huge opportunities for IoT platform vendors and service provides. However, lack of IoT technology skills is restricting the market growth.

North America is expected to acquire the largest market share in the global market during the forecast period. Increased investment and early adoption of technology by several industries are some of key factors contributing to market growth in this region. APAC is anticipated to grow at the highest CAGR which can be attributed to the rise in manufacturing automation and retail establishments. The market is expected to have wide growth opportunities in the Middle East due to the high IoT investments in manufacturing and utilities.

Some of the key players in the market include Telit, SAP SE, PTC, Salesforce.Com, Samsung Electronics Co. Ltd, General Electric and Google Inc.